Odaily News FOX reporter Eleanor Terrett posted on the X platform that Grayscale never submitted an S-1 application for its Ethereum futures ETF, so the application is incomplete. The SEC may want to see if there is a completed futures application before considering its spot application. It also said that investor demand for the existing ETH futures ETF has been relatively sluggish since its launch last year. Earlier today, Grayscale submitted a notice to the U.S. SEC on May 7 to withdraw its 19b-4 application for Ethereum futures ETF, with only three weeks left before the SEC was forced to make a decision on its application. The SEC originally planned to make a final decision on the Grayscale Ethereum Futures ETF on May 30. Grayscale initially submitted a 19b-4 application on September 19, 2023, hoping to list its Ethereum futures ETF on the New York Stock Exchange. Bloomberg ETF analyst James Seyffart initially believed that Grayscale planned to strategically use its Ethereum futures ETF as a "Trojan horse" to force the SEC to approve its Ethereum spot ETF. But he is confused as to why Grayscale is withdrawing its application now, as the SEC will be forced to decide on May 23 whether to approve at least one application for an Ethereum spot ETF.